Or simlply google ;
"Sell in May and go away."
I have just checked the chart S&P NZX50 Index, and I think it [sort of] confirms weakness in June/July each year for the last 5 years.
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Wen I bought my first home most lending was done through solicitor's nominee companies. By law they could only lend 66% on first mortgage.
it was sometimes possible to get a second or third mortgage, but they were expensive.
it wasn't easy back then and it's not easy now.
Correct, percy. FN Arena made this comment in their latest weekly roundup:
"The Big Elephant in the room of global equity markets is, of course, the usual seasonal pattern that has firmly characterised five out of six calendar years post 2009.
With the exception of 2014, in all other years global indices enjoyed one last hurray leading into late April/early May only to subsequently take a dive to lower levels."
A bit strange, really, considering that the old "sell in May and go away" is said to date from the days of well-heeled London brokers taking the summer off for social reasons - Wimbledon, Lords, etc! Or at least, that's what I was told when I worked briefly in London in the 80's.
Thanks macduffy.
I know it is a very old saying, and I am sure you are right about it coming from the well-heeled London brokers.
watch the weeklies
It's a proved fact concerning Wall St..
Sell in May and go away..has always been a theme every March/April with the Media....except this year it's been scant mention..
Why?...At one extreme it says the investors are bullish, buying and exhurberant
At the other extreme the big players are divesting as quick as they can during this "very good feel good rally..
This latest low volume rally tells a truer story....eh
This Wall St party may be over folks the negative divergences maybe coming true as the weaker earnings are hitting the big guns in the industry and investors are waking up that just maybe the promised land maybe longer away than predicted...anyway this rally is unsustainable and its running out of buyer momentum (energy) so market physics says it must end.. As physics say energy is needed to defy gravity (descending earnings trend).
A blacker looking next Monday here, methinks
@RBAdvisors: People still saying US equities in bubble. Yet ICI fund flows show another week of US equity fund outflows & bond inflows. That’s euphoria??
I imagine that it has never been easy taking on the responsibilities of owning your first home. However present day difficulties are highlighted by the fact that, despite increasing levels of female work-force participation (from 55% to 63% of working-age females in the last 20 years), NZ home ownership is at the lowest level in 60 years (and heading lower) and the rate of owner-occupation is now heading below those countries we like to be compared with.
As the rate of ownership has been dropping for the general population, it masks the fact that more and more potential first home owners are failing to enter the market, especially in Auckland no doubt. High levels of immigration these days, with an emphasis on wealth and skills, may also make home ownership comparatively more expensive for the locally born potential first home buyers, as they compete in the housing market with these newcomers.
https://en.wikipedia.org/wiki/List_o...ownership_rate
http://www.stuff.co.nz/business/mone...-than-60-years